Rockland Resources Arranges Financing

Executive Summary

• Rockland Resources Ltd. arranged a non‑brokered private placement of 3 million units at $0.06 per unit, raising gross proceeds of $180,000.
• Each unit consists of one common share and one transferable warrant exercisable at $0.10 per share for up to 36 months after closing.
• Net proceeds will be used to advance the Cole Gold Mines project in Red Lake, Ontario and for general working capital; the company also granted 750,000 stock options to directors, officers and consultants at $0.08 per option.

Key Details

• Offering size: 3 million units (each = 1 common share + 1 warrant).
• Price per unit: $0.06 → Gross proceeds: $180,000.
• Warrant terms: Exercise price $0.10 per share; exercisable for a 36‑month period after the closing date.
• Share lock‑up: Shares issued are subject to a four‑month hold period under Canadian securities laws.
• Use of proceeds: Advancement of the Cole Gold Mines project (Red Lake, Ontario) and general working capital.
• Finders’ fees: Payable in accordance with CSE policies.
• Option grant: 750,000 options issued to directors, officers and consultants at $0.08 per option; term of three years under the company’s stock option plan.

Notable Quotes

(No direct quotes were provided in the release.)